The essence of the RLC token
The assets of the iEx.ec project are held by the IEXEC BLOCKCHAIN TECH company, cofounded by Gilles Fedak and Haiwu He, with the headquarters in Lyon (France).
As the main goal of iEx.ec is to build the first blockchain-based Distributed Cloud, an immediate derived goal is to set-up an innovative market network. This decentralized structure would allow the participants of the market to collaborate and execute business transactions with Cloud resources through various scenarios, using the RLC token.
The iEx.ec market network includes the following types of resource provider: DApps (Decentralized Applications), servers, applications and data.
A simple business transaction is: a DApp needs to perform off-chain computations. For this, the DApp uses iEx.ec to access off-chain computing resources by choosing a server provider from the market network and delegate computations to their machines. After a successful execution, the server provider returns the yielded results to requesting DApp (which further uses them in its flow). At the end of this business transaction, the payment goes from the DApp owner to the server provider and is performed in RLC tokens.
At this time, DApps urgently need off-chain computing resources for their development and the iEx.ec project is here to solve this deadlock. So through iEx.ec, all DApps have a real chance for development.
A more sophisticated — and realistic scenario would be with an application provider that accesses more server providers and data providers as well. In this case, all providers involved into the transaction get rewarded with a particular amount of RLCs, according to the provided resource quantities.
Using the RLC token on the iEx.ec Market Network
The iEx.ec market network will be created progressively, according to the iEx.ec roadmap. The general approach is to build step-by-step the appropriate mechanisms that allow the four types of resources provider to join the market. They have different needs and behaviors, thus our focus is to implement particular business models for each type of provider.
The RLC token is the only mechanism to transfer value between the market network participants. Hence, the RLC token has two valences at the same time, during the development of iEx.ec. Firstly, the capital raised during the crowdsale is allocated to delivering the 5 versions, according to the iEx.ec roadmap and following a clear budget structure.
Secondly, as the different types of resource providers progressively gain access to the market network, the RLC tokens will be used by participants to transfer value among them, for different types of resources, in completely innovative ways. So the RLC token will progressively be used in more and more different ways to cover specific business scenarios for all four types of resource providers.
Considering the iEx.ec roadmap, in versions 1 and 2, the RLC tokens will be used by DApps to access off-chain computing resources from server providers. Then, in version 3, data providers will monetize their data and receive RLCs from demanding applications. From version 4, the RLC token will also be used to monetize mining farms, individual miners and GPU application providers participating to the iEx.ec market network. From this point, the RLC token will enrich its use-case palette with HPC transactions. And finally, version 5 prepares the RLC token to be used in new scenarios by the emerging applications from realms like IoT and Fog computing.
Considering the iEx.ec roadmap and the valences of the RLC token, reaching the maximum target for the market cap allows two things: (1) the implementation of the five versions, allowing to fulfill the urgent demand for Cloud resources for DApps and a wide range of applications and use cases and (2) insure a higher volume of RLC tokens that will allow the development of a wider and complex market network.
Continuous value increase
There is a fixed amount of RLC tokens distributed during the iEx.ec crowdsale.
The RLC token has two potential value increase factors: (1) powering up with vital Cloud resources the Ethereum Blockchain and (2) building the Distributed Cloud using blockchain tech.
- The first factor is defined by the resource request transactions from DApps to access the indispensable off-chain computing resources. The number of requests will be sharply increasing as iEx.ec is the first project to address this crucial need.
In the long run, iEx.ec will grow with the number of Ethereum blockchain-based applications, powering them up with computing resources and data. As the number of such applications is now booming, so will be the RLC token usage. All these applications will rely on gas and RLC token for their functioning.
Ethereum has a strong business imperative and so is iEx.ec, by providing the Ethereum-based DApps with computing resources.
- The second factor is defined by the innovative Distributed Cloud based on blockchain tech. This will provide to its users indispensable features, like decentralized business models — that are still absent at centralized Cloud providers. The number of iEx.ec transactions sharply increases from version 3, when the market network allows all four types of resource provider to join.
Fast Go-To-Market
The DApps urgently need off-chain computing resources, and we’re prepared for that. From October 2017, the RLC token starts serving the DApps.
The IEXEC BLOCKCHAIN TECH company already relies on a seasoned team with solid experience in the distributed computing realm, innovating on specifically related topics since 1999.
A key advantage of this company is that the core technology and know-how for the distributed computing part of the project is already available through approximately €1M worth assets, financed through EU research projects. So the team will focus on integrating these cutting-edge software components with the blockchain technology. So we have an advanced point from which we start.
There are differences and similarities between iEx.ec and Golem projects. From a positioning perspective, while the Golem project aims to build a Global Supercomputer, the iEx.ec project relies already on high-value distributed software and goes straightly to power-up the DApps with computing resources. iEx.ec will be capable of providing the Golem functionalities plus will immediately address the computing resources need of the booming DApps market. So in short time the RLC will need to circulate.
RLC token landmarks
The iEx.ec project token is called RLC, meaning Runs on Lots of Computers.
This is the official icon of the RLC token. It displays an abstract representation of a crown using an electronic circuit design style. This is connected to its outside world to represent a decentralization unit/cell.
The only way of acquiring the RLC tokens is during the iEx.ec crowdsale campaign. This will take place during April 19– May 19, 2017.
The acquired RLC tokens are immediately distributed during the crowdsale. That is, the amount of RLCs that you acquire is automatically moved from the iEx.ec account to your account, after your successful ETH or BTC transfer. However, only after the end of the crowdsale, financial backers are able to exchange, move and trade the RLC tokens as they want.
The RLC token is ERC20 standard compliant.
The iEx.ec crowdsale information is available on http://crowdsale.iex.ec
A very useful guide to easily join the iEx.ec crowdsale.
Detailed information related to the capitalization of the IEXEC BLOCKCHAIN TECH company can be found within the iEx.ec. white paper.
